The freedom to start your own business and willingness to compete with other businesses
Economic Systems

Flashcard
•
Geography
•
8th Grade
•
Hard
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15 questions
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1.
FLASHCARD QUESTION
Front
Back
free enterprise system
2.
FLASHCARD QUESTION
Front
What is the most effective way for consumers to participate in the free enterprise system?
Back
by the purchases they make
3.
FLASHCARD QUESTION
Front
Goods
Back
are tangible (you can touch them)
4.
FLASHCARD QUESTION
Front
Services
Back
are intangible (you cannot touch them)
5.
FLASHCARD QUESTION
Front
What are the benefits of competition?
Back
Keep Prices Low, Keep Quality of Goods Higher, Encourage business to make NEW products
6.
FLASHCARD QUESTION
Front
A consumer is
Back
someone who uses goods and services.
7.
FLASHCARD QUESTION
Front
a system of how we manage our money and resources
Back
economy
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